A Pathway to Residency and Investment
Greece's Golden Visa program, introduced in 2013, grants residency permits in exchange for property investments. This program has become increasingly popular, particularly among non-EU citizens, due to its attractive features.
One of the key drivers of the program's popularity is the relatively low minimum investment threshold. Initially set at €250,000 (approximately Rs 2.3 crore), this threshold was one of the lowest in Europe, making it accessible to a wider range of investors. However, due to rising property prices, the Greek government has increased the threshold to €800,000 (around Rs 7 crore) for properties in sought-after locations such as Athens, Thessaloniki, Mykonos, and Santorini. This change will take effect from September 1, 2024.
Financial benefits: Greek property offers rental yields of 3-5% annually, and property values have been increasing by around 10% each year, especially post-pandemic.
Investors gain access to high-quality healthcare, education, and the ability to set up businesses within the European Union.
The program offers various investment options, including real estate, government bonds, and business ventures.
Investors are only required to spend a minimum of seven days per year in Greece to maintain their residency status.
The program also allows investors to earn rental income immediately from purchased properties, making it an attractive option for those seeking passive income.
In addition to the existing real estate option, the Greek government recently announced plans to expand the program by introducing a new investment route. This new route will provide investors with even more flexibility and options to obtain residency through investment.
Overall, the Greek Golden Visa program offers a unique opportunity for non-EU citizens to gain residency, access investment opportunities, and enjoy the benefits of living in Greece. With its attractive features and recent expansion plans, the program is expected to continue attracting investors from around the world.